Apr. 23, 2008 (China Knowledge) - China's corporate annuity fund is likely to hit RMB 1 trillion (US$142.86 billion) in 2010 and RMB 8 trillion by 2030, Xinhua New Agency reported.

Over the past few years, China's corporate annuity fund has experienced a robust growth. The fund went up by RMB 40 billion to amount to RMB 150 billion by the end of 2007 after an increase of RMB 26 billion in the previous year. Over 30,000 Chinese enterprises have established the annuity fund, which covers more than 10 million employees, said Tang Jisong, an official with the Ministry of Human Resources and Social Security.

14 state-owned enterprises and large-sized groups have finished their corporate annuity fund registration in 2007 and another 10 state-owned enterprises have fulfilled their registration in the first quarter of 2008, according to Tang.

China implemented the corporate annuity system in 2004.